EDUCATION – We work with our clients (and often their trusted advisors) to develop an understanding of the basic elements of alternative risk financing tools that exist.
VIABILITY STUDY – Before we dive into an expensive relationship with a captive manager, we first identify the risks, coverage, location and cost of a captive to determine if a company should move forward with a captive manager. Ambassador is completely independent to this decision and we are not, nor do we work for, a captive manager. We work with you and your team to make the right decision, even if it is not to go the captive route.
FEASIBILITY STUDY – Once we understand the costs and benefits of partnering with a captive manager, we present your firm to a captive manager to determine the right partner. This is also the stage where we solidify the pricing that was discovered in the viability study.
FORMATION – If all signs continue to point to a captive insurance company being the right decision for your firm, this is when we would form the creation of your insurance company. All filings are completed with the state or jurisdiction, policies are issued, premiums are collected and all the parties are aligned for launch.
ANNUAL CONTINUATION – We analyze new and expiring data for the upcoming year to identify any changes that need to be made to the program as well as a complete risk assessment each year.